Yields eased back having spiked following a higher-than-expected inflation reading on Wednesday. April's Consumer Price Index rose 4.2%, its, a more indirect indicator of inflation. April's PPI rose 0.6% on the previous month, above the 0.3% expected growth and jumped 6.2% year-on-year, well above a forecast of 3.8%.
" on Friday that year-on-year inflation index figures were "perhaps a little bit misleading."While the Federal Reserve has insisted a rise in inflation is transitory, Gallagher said if the central bank is wrong "then the market, particularly the bond market, will be demanding that the Fed moves somewhat earlier" to change its easy policy.In terms of data out Friday, April retail sales are due to be released at 8:30 a.m. ET.
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